Funding
AI startup by Columbia graduates raises $7 million to target midsize law firms
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August, an AI startup founded by Columbia University alumni and that caters to midsize law firms, said on Tuesday it had raised $7 million in a seed funding round led by venture capital firms NEA and Pear VC.
Why it matters
AI’s ability to handle routine, document-heavy tasks is unlocking new efficiencies for lawyers, particularly because the legal field is built on vast volumes of literature such as case law, contracts and filings.
By automating time-consuming paperwork, AI platforms such as August are freeing up lawyers to focus on higher-value…
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